Twitter vs. Elon Musk Court Filing is part of HackerNoon's Legal PDF series. Part 7 of 31.FACTUAL ALLEGATIONS-The Final, Agreed-upon Term Efforts Covenants - elonmusk twitter
Feature Image: HackerNoon’s Midjourney AI, Prompt “hell or high water obligation”46. The agreement requires all parties, including Musk, to use their “reasonable best efforts” to consummate the merger and cause all of the closing conditions to be satisfied. Id. § 6.3. 47. Defendants, including Musk, have a “hell-or-high-water” obligation to close on their financing commitments for the transaction.
take, or cause to be taken, all actions and . . . do, or cause to be done, all things necessary, proper or advisable to arrange, obtain and consummate the Financing at or prior to the Closing on the terms and subject to the conditions set forth in the Financing Commitments . . . . Id. § 6.10. More specifically, Musk and Parent have an unconditional obligation to “take all actions, and do all things necessary, proper or advisable to obtain the Equity Financing,” which includes, among other things, Musk’s funding of his personal equity commitment at or before closing. Id. § 6.10.
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